We are delighted to announce that we successfully advised Alpha Bank, Eurobank, National Bank of Greece and Piraeus Bank on the €2.76 billion financing to Nea Attiki Odos Parachorisi S.A., a member of GEK Terna Group, in connection with the new 25-year concession of Attica Motorway. Financial close occurred on 4 October 2024 and the new concession commenced at 00:00 on 6 October. This is a landmark transaction for the Greek infrastructure sector and the largest financing ever arranged for a road project in Greece. The project involves the operation, maintenance, and improvement of the 70 km Attica Motorway, which is the main ring road of the greater Athens metropolitan area and a vital link for the national road network.
Our team, led by Euripides Ioannou (Partner) and Vassilis Tsintavis (Senior Associate), supported by associates Theodore Fostieris and Erato Zeliou, provided comprehensive legal advice to the four Greek systemic banks, covering all aspects of the financing, including the analysis of the concession agreement, the project agreements, the security package, the intercreditor agreement, and the loan documentation. We congratulate the amazing teams of GEK Terna and each lender on the accomplishment of this feat and thank them for their trust and cooperation. We are honored to have been part of this successful project and look forward to continuing our collaboration in the future.

Euripides Ioannou and Vasilis Tsintavis advised a syndicate of Greek banks on the c. 280m EUR financing for the construction of the 49 km Southwest Peloponnese Road Axis-Section Kalamata-Rizomylos-Pylos-Methoni. The project is one of few motorway PPPs in Greece and was sponsored by a consortium of Ellaktor and Intrakat.

Euripides Ioannou and Anthea Terlegas, supported by associates Dimitra Rachouti, Vasilis Tsintavis, Efstathia Yperifanou, Panagiotis Pougouras and Alexandros Vaisidis, represented a syndicate of Greek systemic banks on the project financing of a 330MW cluster of wind farms on the island of Evia sponsored by one of Greece’s largest renewable energy companies. With a construction budget reaching €530 million and the intricacy of a connection to Greece’s mainland grid through a submarine high-voltage cable system, the project will, upon completion, be the largest wind farm project in Greece.

Partner Euripides Ioannou and Associate Vasilis Tsintavis advised a major international bank on the Greek law aspects of a c. 83,000,000 € buyer facility agreement in respect of an 826 MW Combined Cycle Gas Turbine (CCGT) plant being developed in Central Greece